Showing posts with label GM. Show all posts
Showing posts with label GM. Show all posts

Sunday, August 5, 2007

Oil extends decline, falls 1 pct on poor US data

(Reuters) - Oil fell more than 1 percent to about $74 a barrel on Monday, extending the previous session's decline which saw prices dragged down by poor U.S. economic data.

U.S. crude, which slid as much as 91 cents, or 1.2 percent in early trade, reversed some losses and was down 59 cents at $74.89 a barrel by 0558 GMT.


Read more at Reuters Africa

Gold off 1-week high, Tokyo dips on firmer yen

(Reuters) - Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen.

Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.


Read more at Reuters Africa

Friday, August 3, 2007

Rand softer vs dollar as risk aversion weighs

(Reuters) - South Africa's rand was weaker against the dollar in late Friday trade -- giving up its earlier gains -- as the greenback's own softness against the yen brought risky-asset jitters back to the fore.

At around 1510 GMT, the rand was trading at 7.1135 against the dollar, down 0.33 percent from New York's Thursday close of 7.09, having earlier strengthened to 7.0360 as some market players liquidated long dollar positions.


Read more at Reuters Africa

Tuesday, July 31, 2007

GM beats second-quarter estimates

(Reuters) - GM posted a second-quarter profit of $891 million against a massive $3.4-billion loss a year ago, bolstered by gains in Europe, Latin America and Asia, sales of higher-margin vehicles and a one-time, tax-related gain.




The automaker also sharply narrowed its losses in its troubled home market, but vowed to keep the pressure on costs, the overriding issue in a crucial round of ongoing labor talks with its major union.


Read more at Reuters.com Business News

U.S. Swaptions Interest Rate Volatility Falls as Perceived Bond Risk Eases

(Bloomberg) -- Volatility on options on interest-
rate swaps fell from a 17-month high for a second day as the
perceived risk of owning corporate bonds declined.

The risk of holding corporate debt dropped by the most in
at least three years after home lender GMAC LLC said subprime
mortgage losses narrowed and Citadel Investment Group LLC said
yesterday that it bought the assets of a failed hedge fund.


Read more at Bloomberg Currencies News

Monday, July 30, 2007

Profit optimism, financials fuel Wall St.'s rebound

(Reuters) - Financial shares, which have borne the brunt of fallout from tightening credit markets, bounced back in part after ratings agency Standard & Poor's upgraded Morgan Stanley's debt.




Sentiment about the sector also improved after the bailout of a hedge fund steeped in subprime mortgage market losses and a home lending unit of GMAC reported narrowing losses. General Motors Corp. shares rose 4.9 percent, boosting the Dow.


Read more at Reuters.com Business News

GMAC CFO says ResCap's liquidity sufficient

(Reuters) - Earlier Monday, finance company GMAC posted a 63 percent
decline in quarterly profit, hurt by a $254 million loss at
ResCap. Last year, General Motors Corp. sold a majority
stake in GMAC.





Read more at Reuters.com Market News

S.African stock market boosted by miners, banks

(Reuters) - South Africa's blue chip top-40 index rose over 1.7 percent on Monday, boosted by resource and banking stocks in late afternoon trade.

At 1452 GMT, the blue-chip index was 1.6 percent stronger, with heavyweight miners Anglo American up 2.07 percent to 402.40 rand and BHP Billiton 3.75 percent higher at 203.60 rand.


Read more at Reuters Africa

Importers help push rand weaker

(Reuters) - South Africa's rand weakened to a new one-month low against the dollar on Monday, pushed down mostly by heightened importer demand during the morning session, traders said.

At 1520 GMT the domestic unit was trading at 7.1475 versus the dollar, down 0.5 percent from Friday's New York close of 7.1125, but well off the session's softest level of 7.1999 -- its weakest mark since June 27, according to Reuters data.


Read more at Reuters Africa

Thursday, July 26, 2007

Rand, bonds dive in emerging market sell-off

(Reuters) - South Africa's rand fell sharply on Thursday, caught up in a battering of global equities and emerging market currencies.

The local unit was trading at 7.0350 at 1530 GMT, a fall of 2.2 percent from its close in New York of 6.8825, but just off the session trough of 7.04 -- a two-week low.


Read more at Reuters Africa

Tuesday, July 24, 2007

Nedbank falls 3 pct as M&A talk wanes

(Reuters) - Shares in South Africa's fourth-biggest banking group Nedbank fell as much as 3 per cent on Tuesday as takeover talk around the group faded, traders said.

At 1253 GMT Nedbank shares were down 2.6 percent at 140 rand, having earlier hit 139.51 rand, underperforming the JSE Securities Exchange's banking sector which was 0.7 percent weaker.


Read more at Reuters Africa

Monday, July 23, 2007

LME stocks cap price after copper hits 10-week high

(Reuters) - Copper was steady on Monday as rising stocks capped prices after they hit a 10-week high on bullish U.S. economic growth expectations and possible strike actions in top producer Chile, analysts said.

London Metal Exchange copper for delivery in three months was at $8,090/8,110 a tonne at 0932 GMT, down $20 against the close on Friday.


Read more at Reuters Africa

Oil falls, OPEC concerned about world economy

(Reuters) - Oil prices fell on Monday on expectations of higher U.S. refinery production and after remarks by OPEC that it is ready to pump more oil if needed.

London Brent crude, currently seen as more representative of the world market, slid 60 cents to $77.04 a barrel by 0807 GMT, after easing 3 cents on Friday. U.S. crude for September traded 42 cents lower at $75.37.


Read more at Reuters Africa

Sunday, July 22, 2007

Oil falls, OPEC concern on world economy

(Reuters) - London Brent crude currently seen as more representative of the world market, slid 36 cents to $77.28 a barrel by 0444 GMT, after easing 3 cents on Friday. U.S. crude for September traded 22 cents lower at $75.57.




The Organization of the Petroleum Exporting Countries is concerned about the potential impact of near-record oil prices on the world's economy, but has seen little sign that growth has been hit by higher energy costs, the group's president said on Sunday.


Read more at Reuters.com Business News

UPDATE 1-Reuters FX trading platform suffers outage

(Reuters) - Reuters shut down the servers for its Dealing 3000 Matching
platform for emergency maintenance at 2205 GMT on Sunday, the
early hours of the new week when global trade kicks off in
Wellington and Sydney.




Reuters expected to have full service available again by 0530
GMT. For the latest details, click .


Read more at Reuters.com Bonds News

UPDATE 1-Multiplex formally recommends Brookfield bid

(Reuters) - An independent expert's report on Multiplex valued the
company, the builder of Britain's much delayed Wembley Stadium,
at A$4.62 to A$5.26 a share, it said in a target statement to
shareholders.




Shares in Multiplex were steady at A$4.97 at 0223 GMT.


Read more at Reuters.com Mergers News

Friday, July 20, 2007

Kenyan shilling steady vs dollar, banks dominate trade

(Reuters) - The Kenya shilling held steady against the dollar on Friday, in trade dominated by banks, dealers said.

At 1000 GMT, commercial banks quoted the local currency at 67.05/15 to the dollar, the same as Thursday's close.


Read more at Reuters Africa

Mutua Madrilena selling 3 pct stake in ACS

(Reuters) - MADRID, July 20 - Spanish insurer Mutua Madrilena is selling its stake of about 3 percent in construction group ACS through a private placement carried out by Morgan Stanley, the firms said on Friday.



Shares in ACS opened 2.8 percent lower on the news and at 0811 GMT were down 2.6 percent at 46.82 euros.


Read more at Reuters.com Government Filings News

Zeltia shares soar after cancer drug approval

(Reuters) - MADRID, July 20 - Shares in Spanish drug company Zeltia soared on Friday after its cancer treatment Yondelis was recommended for approval in Europe, its first medicine to make its way to the market. Zeltia shares were 19.4 percent higher at 9.79 euros at 0800 GMT after the European Medicines Agency late on Thursday recommended Yondelis be approved by the European Commission, a process which usually takes a couple of months.



The company said Yondelis should be available to treat soft tissue sarcomas by the end of the year.


Read more at Reuters.com Government Filings News

Wednesday, July 18, 2007

Rand holds steady vs dollar in liquid market

(Reuters) - South Africa's rand remained around levels at which it has traded for the past two weeks on Wednesday, with an uptick in global risk aversion and central bank intervention seen blocking any significant gains.

At 1455 GMT the domestic unit was at 6.9640 versus the dollar, barely changed from Tuesday's New York close of 6.96, though it briefly visited 7.0001 earlier in the session.


Read more at Reuters Africa